DG acquires Mijo

http://finance.yahoo.com/news/DG-Acquires-Leading-Canadian-iw-583815839.html?x=0&.v=1

DG® (NASDAQ:DGIT - News), a leading provider of digital media services to the advertising, entertainment and broadcast industries today announced that it has acquired privately-held MIJO Corporation for Canadian $39.5 million in cash. Based in Toronto, MIJO provides broadcast and digital media services to the Canadian advertising, entertainment and broadcast industries.

For 2010 MIJO reported revenues of Canadian $17.4 million, and Adjusted EBITDA of approximately Canadian $3.0 million. DG expects to recognize approximately $3.5 million in cost synergies during the initial 12 month period following close. Additional financial guidance with respect to the MIJO acquisition will be provided on DG's first quarter 2011 earnings conference call.

MIJO co-founder Joel Reitman commented, "We are very excited to partner with DG, as the two companies share an essential belief in utilizing superior technology and talented employees to provide unmatched customer service."

"We have spent over 32 years building a business in Canada that provides a suite of diverse and fully integrated services to advertisers, feature film distributors and broadcasters," said MIJO co-founder Michael Goldberg. "This transaction fulfills our goal to gain access to an international audience for this platform."